6 Cheap Credit Card Processing Services That Accept Online Payments

For any business, accepting credit card payments opens up an entire range of opportunities, such as increasing flexibility and boosting sales by providing customers a wide variety of payment options. In fact, cash-only businesses could be missing out on a lot as the popularity of mobile payments continue to increase.The world is moving away from cash towards mobile and electronic. Cash-only businesses are not only falling behind their tech-savvy competitors, but also run the risk of losing potential clients by failing to meet their expectations. In fact, many customers don’t even keep cash on hand because they expect the company to accept credit card payments.

Choosing a credit card processing service can be a daunting task. Here are 6 of the best cheap credit card processors to help you in this endeavor.

Cheap Credit Card Processing Services

1. FreeAuthNet

FreeAuthNet is an inexpensive and reliable service, which is most commonly used for restaurants, retail stores and, of course, online businesses. It works with processing banks in order to ensure you get the lowest rates possible. Furthermore, you won’t have to take any risk with using this service as there isn’t any cancellation fee.

It offers some of the lowest rates in the industry, with a per-transaction fee of $0.24 and discount rate of 2.04%. Other than that, the setup fee, application fee, license fee and annual fee are all free.

2. Flagship Merchant Services

Flagship Merchant Services is a reputable company, famous for its paperless process. No startup fee is required, and an account can be set up the same day. The company also offers a month-to-month contract, instead of the regular two-to-three year agreement typical of most credit card processors. Furthermore, there isn’t any cancellation fee associated with Flagship Merchant Services.

The rates start from 0.38%. You will also have to give a monthly minimum fee, statement fee and gateway fee.

3. iTransact

iTransact is one of the most inexpensive credit card processing services. Users can use the Perl-based shopping cart called RediCart, which can accept checks, EFT payments and credit cards. You only need three Perl scripts to install the payment processor on your website. The service is available free of cost, so you don’t have to pay any usage and per-transaction fees.

4. CreditCardProcessing

CreditCardProcessing provides highly competitive rates and can process transactions from all over the world. You only need to invest a few minutes to fill in the application and approvals are usually issued within a day, allowing you to process credit cards from the very next day.

This service doesn’t charge any cancellation fee, upfront costs, and contract terms. Transactions usually have a 22-cent fee with an average discount rate of 0.95-1.95%. Other costs include a $7.95 monthly statement and $7.95 monthly gateway fee.

5. National Bankcard

National Bankcard accepts both credit and debit cards, and has an A+ rating with the Better Business Bureau (BBB). It provides an incredible service and serves restaurants, retail stores and ecommerce businesses amongst other industries.

You can obtain the services of National Bankcard without paying any setup fee. Rates vary from 0% to $0.25.

6. Merchant Express

Merchant Express, one of the top-rated credit card processing services,offers both phone and wireless processing. The services also offers a 30-day risk-free trial. You don’t have to pay any application fees, annual fees, setup fees, monthly maintenance fees and overlimit fees. The retail transaction fee is $0.19, while the retail account rates are 1.69%.